Charity number: 1195573 MENTORNECT UNAUDrrED ACCOUNTS FOR THE YEAR ENDED 31108r2025 Prepared By." AL Accountants 11 Dudley Street Coventry CV6 7EE
MENTORNECT FINANCIAL STATEMENTS FOR THE YEAR ENDED 3110812025 TRUSTEES Loretta Nana Offeibea Asiedu Nicola Ann Marie Bogle- Trustee Stephen Balmer- Walters -Trustee REGISTERED OFFICE 50 Dittisham Road London SE9 4BH CHARITY NUMBER 1195573 ACCOUNTANTS AL Accountants 11 Dudley Street Coventry CV6 7EE
MENTORNECT ACCOUNTS FOR THE YEAR ENDED 31108r2025 CONTENTS Page Report of the Trustees Independent Examinerf$ Statement Statement of Finan81 Activibes Balance Sheet 12 Noles to the Accounts 13to16 Detailed Statement of Financial Acbvitses 15
MENTORNECT FOR THE YEAR ENDED 3110812025 TRUSTEES. REPORT TRUSTEES The Trustees of Mentomect present the annual report and financial ststements for the year ended 31 Au9USt 2025. The trustees have adopl8d the provisions of the Statement of Recommended Practi (SORP), Accounting and Reporting by Charities issued in 2005 in preparing the Annual Report and Finanaal Statements of Mentomect. STATUS AND ADMINISTRATION The c£smposition of the MentorNect Board of Trustees are as follows: Loretta Nana Asiedu - Chair of Tnjstees {apwinted 02 September 2021) stephen Balmer Walters - Treasurer (appointed 02 September 2021) Nicola Bcgle - Secretary (appointed 04 February 2022) Charfotte Valerie Caradot (resMJned 01 November 2021) MentorNect is a Charitable Incorporated Organisation with the Charity Number. 1195573. The Corresponden address is: 50 Dittisham Road, MottFngham. London. SE9 4BH. OBJECTIVES MentorNect is committed to act as a resource for young people between the ages of 18 and 30 by the provision of accessible e-leaming mentorship prc*3rams for the development of skills, knowlodge, education. employability, and capacrties as a means of.. {al advancing in life and helping young people by developing their sknlls. capacthes and capalItIeS to enable Ihem to participate in society as independent. mature and responsible indivmluals,. and (b) relieving unemployment The ITUStees at MentorNect ¢X)nfim Ihat referral has been made to the promsions of Charity Commission's guidance on public benefft, and as such. the obj'ectives and activitie$ of the Charity are in alignment with the guidance. page 3
MENTORNECT FOR THE YEAR ENDED 3110812025 TRUSTEES, REPORT The Charity conducts the ab)ve by: Devising ihe MentorNect6 1-2-1 mentoring pr(*Jramme where mentees have access to an approved MentorNect mentor for a define(I period of time at no cost to mentees. The programme is funded by donations made to the Chartiy. All prJ3 are reinvested into the charity to 8nable the charity organisation to sustain its Charitable aclivities. Should mentees desire to have exlra sessions, the option to pursue MenlorNe¢t+ is available for an extended period. Compared to the previous repor( mentees are currently able to have extra sessions at no cost. Additionally, liaising and establishing collaborations Wtth educational institutions. and charrties to offer educational talks to students. young adults on ways to enhan employability. and advi on how to improve the overall well-being of young people to ensu that they are equipped to achieve and live a wholesome life. STRUCTURE GOVERNANCE AND MANAGEMENT MentOTNect is a registered CharItae Incorporated (hganisation ( CIO) under number 1195573. Prior to tts incorporation in 2021, the Charity was establish after its founder Loretta Nana Asiedu on her own rareer arKI personal developmentioumey. recognised the need amongst young adults to be conneoted to indmduals wrth expertise In their chosen career,and extensive Itfe experien to provid8 them with valuable advice and support through mentoring. The Charity has made $ignific4nt contribulions to the knedge and skllls of many young adults, particularly in 2020 at the height of
MENTORNECT FOR THE YEAR ENDED 3110812025 TRUSTEES, REPORT the pandemic where a surge in unemployment and a delrimental effect on well-being was rife. Presently, the Charity relies on donalions and in-house fundraising activities to continue its charilable work with plans to ino)rporate grants to expand the organisation's reach in the pipeline. In a¢Gordance with its constitution. the Charity requires a minimum of thr8e truste8S. With no maximum limit. Trustees are appointed by the existing board and serve a one-year term, subject to a mid-term review. Trustees may be reappointed rf mulually agreed. The Board of Trustees meets regularfy to set the strategic direclion of the Charity. These meetings include reviews of poliaes, financial updates. volunteer management and recruitment. and plans to expand both mentor and mentee engagement. There have been no changes to the Compotion of the board since the last reporting period. No new trustees have b6en appointed or removed. All trustees are appointed by 8 resolution passed al a property nVened meeting of the charty trustees. As part of the trusts8 recruitment process, all rtrew trustees undergo an interview with exisling trustses to artain their rnotives align wtth that of the Charity. An agreed Code of Conduct. a role description, useftjl Trustee infoTmation provided by the Charity Commission - agreed by trusle8s are provided. Most imwrtanly. the Charity's Constitution is provided for trustees to familiarise themselves with the objects and its ruth. In accordance with the Constitution. all trustees were not paid any remuneration and voluntarity offer&J their time and expertise freely to the development ofthe charty. page 5
MENTORNECT FOR THE YEAR ENDED 3110812025 TRUSTEES, REPORT page 6
MENTORNECT FOR THE YEAR ENDED 3110812025 TRUSTEES. REPORT CORE ACHIEVEMENTS AND FLMIRE PLANS MentorNect aims to make mentoring easily accessible to young adults to improve their wellbeing and provide the adequate skills required to thrive on their (areerjoumey. To obtain this, Ihe charity recognises the need to strewen and txoaden tts stratce to succeed in order to increase their chanS of improving their employment prospects. As part of our collaboration with Youthbuild Ventures UK. MentorNect delivered an interactive in-person workshop to a selective gr¢yJp of students at Ashford C(Alege. The workshop focused on how to 'Level up your Linkedln, where students were intrrxduced to Linkedln induding how to create an account. page 7
MENTORNECT FOR THE YEAR ENDED 31108r2025 TRUSTEES. REPORT For 1-2-1 mentoring sessions where mentees are paired with a subject matter mentor. a total of eight mentees completed the MentorNect6 prramme for this year Trustees seek to have the mentor recruttment as an on•ing basis to bL)St the Charity's mentor portfolto and lo minimise the risk of mentor shortages.Fellow charity volunteer recruilment platform will be used to achieve Ihis goal. Truslees intend to maintain its existing process such as requiring DBS checks for mentors prior to mentee m21()ing. use of the charity portal and issuing of 0JaniSatiOnal email Sogins to exercise risk Management. FINANCIAL REVIEW Details of Mentomect financial a(aivilies for the year and slate of affairs as at 31 August 2025 are set out on pages 9 to14 The total income of £2846 was derrved from fundrdising actiwty and voluntary contribution from the Chair of Mentornect Board of Trustees. A total expenditure of £1672 was incurred with the majority of furKls all¢Mted to website management. marketing and accounting expenses, leaving a surplust of £1174(2024defiat-£987),. A net of £3091 is carrigj forward as unresthcthl fuTh VOLUNTEERS The trustees would like to take the opportunty to show appreoa1i( to all rts voiunteers who give up their time in the pacity of menlo and lo our marketing team who work tirelessty to ensure that through our So81 media plalfomis we a adding value to the lives of many young people through our contenL Report approved by Irustees on 16 June 2026 and signed on their behalf by. Loretta Nana Asiedu Chair of MentorNoct Board of Tnjstees
MENTORNECT INDEPENDENT EXAMINERE STATEMENT FOR THE YEAR ENDED 3110812025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MENTORNECT I report on the aco)unts of the company for the year ended 3110812025 . RESPECTIVE RESPONSI8ILrriES OF TRUSTEES AND EXAMINER The trustees (who are also the directors of the o)mpany for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audtt is not required for this year under sedion 14412) of the Charities A 2011 (the 2011 Act) and that an independent examination is needed. Having Satisfied myself that the charity is not subJ'e¢l to an audit under company law ar is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 A¢ - follow the procedures laid down in the general Directions given by the Chartty Commission under section 145{5)Ibl of the 2011 Act,. and - state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINERS STATEMENT My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of Ihe acGountirg reo)rds kept by the charty and a ¢x)mparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosures in the acoxjnts, and seeking explanations from you as trustees conming any suth matters. The proureS urKl6rtaken do not provide all the evidence that would be required in an audiL and consequently no opinion is given as to whdher the accounts present a Irue and fair wevf and thè rekK)rt is limited to those matters set out in the statement below. INDEPENDENT &XAMINERS STATEMEpir In connection with my examination. no matter has rne to my attention." 11 } which gives me reasonable ¢ause to believe that in any material respect the requirements.. - to keep accounting records in accordance with Secti 386 of the Companw Act 2(.. and - to prepare accounts which a(y))rd with the aoUnting records. compty wtlh the acunting requirements of section 396 of the Companies Ad 2006 and with the rnethods and principles of the Ststemfrnt of R¢commendad Prath ACCInting and Reporting by Charities have not been met
MEKfoRNECT INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 31108r2025 12} to which,in my opinion, attenlion should be drawn in order to enable a proper understsnding of the acounts to be reached, Dale.. AL Accounta 11 Dudley Street Coventry CV6 7EE page 10
MENTORNECT Statsment of Flnanclal A¢tlvitie$ for the year ended 3110812025 2025 2024 Total Totsl Unrostr Restric Icted ted funds funits Income Income from generaled funds Donations and legaryes Inme from charitable activttres Total InGome and endowments Expenses Costs of generating funds Expenditure on Charitable a¢Xivilles Totsl Expanses Net gains on Inveslments Not Incorne 259 330 589 2.846 2,846 1.672 1,672 1,672 1,576 1.672 1.576 1.174 1,174 {987) Gainsl(losses) on revaluatlon of fixed assests Not movement in funds: Net Income ftir the year Total funds brought forward Net funds carriod forward 1.174 47 1.127 This statement of financtal activtknes indudes all gains and10s8es recognised in the year. Al income and expenditure derive from continuing aclivities 1,174 (987) 47 940 1,127 47 page 11
MENTORNECT BAIANCE 8HEEf AT 31108r2025 2025 2024 CURRENT ASSETS Cash at bank and in hand 3,091 3.091 1,965 CREDITORS.. Amounts falling due wlthin one year NET CURRENT ASSETS I (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES AGcUmUled Funds 890 1,126 1.126 47 47 Unrestrlcted funds General fund 1,126 1,126 For the year ending 3110812025 the MpanY was entttled to exemption under section 477 of Ihe Cornpanies Act 2006 relating to small 1MpanieS. The members have not required the company to obtain an audit in arxx)rdan wtth section 476 of the Companies Act 2006. The directors acknowlge their responsibilities for complying with the requirements of the Ac* with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with th6 provisions applicable to companies subject to the small companies regim6. Approved by tho board of trustees on and signod on thelr behalf by 47 47 Stephen Balmer- WaFters Trustee page 12
MENTORNECT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3110812025 1. ACCOUNTING POLICIES 1a. Basis Of Accountlng The accounts have been prepared under the historical cost convention. The accounts have been prepared in aCrdanCe wtth FRS102 - The Financaal Reportlng Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Slalement of Recommended Practice. Accounting and Rerbng by Charities. Ib. Incoming Resources All incoming resources are includod on the Ststement of Financial Acttvtlres when the charity is legally entitled to the inwme and the arrnunt can be quantified with reasonable acuJracy. 1¢. Resources Expendod Expenditure is accounted for on an accruals basis and has teen classffied under headings that aggregate all cost rèlated to the category. Where sts cannot be diredly attrlbuted to particular headings they have been allocated to activities on a basis consistent with the use of resour. 1d. Allo¢atlon And Apportlonmont Of Costs All costs relale lo the single activity of the charitable o)mpany and are recx)gnised accordingly. le. Fund Accounting Unrestricted fvnds can be used in ac££Kdar with Ihe charttable obithes at the discretion of the tnjstees. Reslricted funds can only be used for particular restricted purposes wlthin the objects of the charity. Restrictions arise when spe(yfied by the donor or when funds are raised for particular restricted purposes. Designated fiJnds are funds set aside by the trustees of unrestrtcted general fijnds for the spedfic future purposes or projects. 1f. Turnover Turnover represents the invoicej value of gc#)Js and selv1 supplied by the company. net of value added tax and trade discounts. pag6 13
MENTORNECT 2. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Loretta Nana Ksiedu Accountancy 1765 200 1.965 690 200 890 3. UNRESTRICTED FUNDS Brough Incomlnoutgdmnsfers Carried t forwar g resou g r0S0U forward rceG rces General fund 47 47 2,845 2,845 1,672 1,672 1.126 1.126 page 14
MENTORNECT Incomlng Resources for the year ended 3110812025 2025 2024 Incomlng resour¢•s In¢oming resources from genorated funds Voluntary Incom8 259 259 Charitablo Aetlvlty Donations 259 330 330 2,846 2,846 330 589 Foge 15
MENTORNECT EXPenS for the year ended 3110812025 2025 2024 Expenses Costs of generallng funds Charitable Activltles Accountancy fe8S Information Commissioner Prtrtrting,poslage & stationery Advert & Promotion Telecomunication Workshop Subscriplions Mentorship Websile Managem8nt Travel Sundry expenses 200 35 36 418 565 47 70 100 1.075 125 157 40 1,576 1.672 1,672 1,576 page 16